The cryptocurrency world has been increasing in popularity over the years with the number of investors increasing sharply. However, Central banks globally have been wary about the effects of virtual currencies despite the craze. This is because of the vulnerability of the currency due to its extreme volatility as a result of speculative activity and the increased cases of financial fraud where exchanges are hacked and hundreds of millions stolen. The digital currency has its weaknesses and it is natural for the regulators to be concerned.
Therefore, as much as cryptocurrencies are believed to be taking over from traditional currency, its weaknesses will still hold back such occurrences. And before such fundamental limitations are completely addressed, fiat money will still be the go-to money. Unless both virtual currency and fiat currency can be used to complement each other.
And this is where Ommer comes in.
What Is Ommer?
Ommer is a platform that is building an on-ramp system that enables users to buy and sell cryptocurrencies easily in under five minutes using their mobile phones. Ommer uses the innovative blockchain technology to make digital assets accessible to mass and emerging affluent in Southeast Asia.
A team of startup veterans, entrepreneurs, and engineers came together to create the Ommer platform to use the blockchain technology to reshape the future. The ability of the platform to offer real-time identification, the integration of local bank accounts and the availability of spot exchange prices provides the speed with which the platform can rapidly enable users to own virtual currencies.
The platform offers a decentralized wallet architecture with safety and recovery features that provide iron-clad security for stored virtual currencies for users who lose their pin, phones or both.
How Ommer Buy & Sell Cryptocurrency Exchange Works
The Ommer platform works on the Ethereum network of the blockchain upon which its tokens are developed. The tokens-ommers act as incentives for miners who contribute to the security of the Ethereum blockchain.
To accelerate mass market adoption, the platform has put emphasis on the Ommer App’s safety and recovery features so that as it functions as a decentralized wallet users’ security is enhanced. Since the Ommer platform is decentralized, it will not be possible to move customer funds without the explicit permission of the customer. In this way, the custody of customer funds is in their own hands and any compromise on the Ommer platform does not affect customer funds as the assets remain protected.
In the long run, Ommer seeks to introduce a tokenized version of ASEAN fiat currency as an alternative to virtual currencies which are known to be highly volatile. This will see the increase in the adoption of e-money as the tokenized ASEAN fiat currencies will be used to provide immediate settlement, low transaction costs, and micro-payments.
Once the exchange rate is relatively stable, there will be consistency in transactions and smart contracts. Further, the Ommer platform seeks to work and implement mutually-beneficial regulations with regulators, understanding issues facing the regulators and educating them on best practices. It will also educate the community on token investment strategies as well as publish token market research.
Ommer OMR Token ICO Details
Ommer will issue OMR tokens during its upcoming ICO. The maximum number of the tokens allowed is capped at 100,000,000.
Parameters Of The ICO
- Token symbol: OMR
- USD per OMR token: USD$0.60
- Soft cap: USD$5,000,000
- Hard cap: USD$18,000,000
- % of tokens for sale 50%
- % of tokens held as reserves 20%
- % of tokens as operational float 10%
- % of tokens for incentives 10%